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Posted By:Daryl Guppy
The market is alive with chatter about the weakness of the U.S. dollar, the growing demand to settle trade contracts in yuan and fears of developing U.S. inflation. Is this the time to switch from equity investments into gold?
Let's see whether we're ready for that golden handshake.
The weekly gold chart has two important features. The first is the series of support and resistance levels. The lowest of these is at $700 and was tested several times in September 2008. The highest of these is at the psychologically important level of $1,000. It was briefly broken in March 2008 and again in January 2009.
Long-Term Trends Point to Gold Above $1,000 - Charting Asia with Daryl Guppy - CNBC.com
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